Traditionally, financial advisors have focused on managing a client's money to ensure their lifestyle is supported to and through retirement. Yet money is only one form of personal capital; clients can also draw on their energy, time, and attention. Because these resources are often pulled toward competing priorities, clients may find themselves aiming for one goal while unintentionally directing their resources elsewhere, which may create a disconnect between the client's stated priorities and how their capital is actually being used. Even with the best intentions, managing the many opportunities and demands on the different dimensions of a client's personal capital can create unintended misalignment. Yet devising a strategy to intentionally narrow one's focus to what matters most can yield incredible dividends, from peace of mind to increased time on what truly matters.
In this 180th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how advisors can help clients assess all of their uses of capital: Money, Energy, Time, and Attention. Among these, attention may be both the most powerful and scarce resource. Attention is uniquely fragmented in today's hyper-distracted world, and because it so often dictates where each form of capital flows, a client may internally hold certain values while their calendars and checkbooks reflect different ones.
When an advisor sees tension between a client's stated values and their lived ones, there may be opportunities for gentle nudges toward alignment. For example, if a core goal – such as not being a financial burden to their children – is secure, advisors can invite clients to consider what else matters, such as time spent with grandchildren or supporting adult children still establishing themselves. Giving clients permission to dream about what else is possible with their capital, and to spend their capital in those ways, can be incredibly powerful.
On a larger scale, this perspective offers a powerful reframing of the value of financial advice. Peace of mind, often seen as an intangible benefit of planning, may in fact be an 'attention dividend' that frees clients from the mental load of managing their finances and allowing them to focus their attention elsewhere. In this sense, advisors don't just save clients money or time; they also help clients reclaim attention and energy – intangible yet deeply valued resources. A client who once spent four hours each week monitoring markets might discover 11 more days each year to focus on other things that are more meaningful to them. Financial advice, in this view, becomes not only about wealth management but also about attention management!
Ultimately, this points toward a more human-centered model of advice – one rooted in empathy, presence, and personal alignment. In a world of endless options and technology solutions, the deeper value of advice lies in helping clients direct their attention toward what truly matters and uncover the misalignments between their stated values and their lived reality. Advisors who embrace this broader mandate – helping clients align all forms of capital with what they truly value – can strengthen their role into that of a trusted guide in an increasingly distracted world.
